You love your home. Make sure you have the right protection for your house, condo, seasonal property or your contents if you are a tenant. Maybe you have a boat or a rental income property? Insurance choices are complicated, so let our professional staff help you choose the coverage which is right for you, from one of our insurance company partners which best fits your needs.
Owning a home may be your largest single financial investment so it’s important to protect your property and contents against unforeseen risks with home insurance.
Home insurance protects you from having to pay out a huge amount at once, often at a very difficult and emotional time.
Although not mandated by law, (but required by the lender if you have a mortgage) insuring your house will give you peace of mind. With severe weather on the rise, confirming accurate replacement value and keeping a current home inventory are important steps. For high-value jewellery, furniture or art, separate endorsements are also available. Understand the limitations in your policy. Typically, additional living expenses are included if you are temporarily unable to live in your home due to an insured loss. Your Homeowners policy also generally provides your personal liability in case someone trips and falls on your property or in your home, or you damage a third party’s property or accidentally injure someone else.
Home Insurance Packages
There are different types of Homeowners policies available:
As the most inclusive home insurance policy, comprehensive covers both the building and its contents for all risks, except for those specifically excluded. Two types of risk that are not normally included in any home insurance policy are:
- Uninsurable perils are predictable events that are not covered
- Optional coverage for which you can buy insurance, such as sewer backup.
The insured perils included in comprehensive and other policies include coverage for aircraft or vehicle impact, fire, lightning, theft and window breakage.
If you live in a condo/strata or mobile home, you require customized insurance for your property type.
If a comprehensive policy costs more than you want to pay and a basic or named perils policy isn’t suitable, a mid-priced compromise is the broad insurance policy. This policy provides comprehensive coverage on the big-ticket items, such as the building, as well as named perils coverage on the contents.
Whether you own or rent your home, you can be held liable for bodily injury or property damage unintentionally caused to others. Your home insurance’s personal liability portion provides coverage if such an event occurs on your property or anywhere in the world.
For example, if a visitor slips on a snow-covered walkway on your property and is injured, you may be held legally responsible. If you’re found negligent, your personal liability coverage would cover the damages resulting from the injury up to the coverage limit. Liability coverage does not apply to injuries sustained by you or members of your household.
In addition to the home coverage types described above, insurers may use trademarked product names to describe home insurance packages.
To see what choice works best for you, simply complete our quote form and one of our professional staff will contact you with a competitive quote.